The market is not giving any sort of optimism here. Why are they beating up so hard on Disney. Yeah.I think after, you know, Caroline, you come off of fiscal 2025 delivering 19% EPS growth, you know, you obviously have some very solid momentum in the business. Yes. Granted, fiscal first quarter of 2026 looks a little light there, dealing with a lot of different cost issues, whether it's on the studio side in terms of launch costs for cruises.So there's a little bit of all of that that they have to contend w ...

What is your takeaway as to the circular financing and whether this is a concern. I think that there's clearly a lot happening, right. And the integration that we're having between the private markets as well as the public markets is clearly something to be watching.And it's a space that we follow very, very closely. We think that actually what we've been seeing with open eyes relationships is the fact that they're broadening them. They're creating structures that are allowing them to potentially IPO long t ...

Market Trends & Investment Opportunities - The Nasdaq has historically doubled with every platform shift (every 5 years), aligning with current trends [1] - AI is creating tremendous opportunities for value creation, though not all companies will succeed [2] - Winners in the public markets, like the "Super six," are generating real cash [3] - Venture funding in Europe, Israel, and the US totals approximately $184 billion this year, with 60% allocated to models like OpenAI and Tropic X, and the remaining 40% to new native applications [5] - Europe is performing well in the native application space, receiving $30 billion in funding compared to $45 billion in the US, representing about one-third [6] Company Strategy & Valuation - The key to investment is understanding the potential scale of a business [8] - The productivity improvement potential unlocked by AI is significantly greater than previous platform shifts [10] - Companies aiming to go public should ideally have $500 million to $700 million in annual recurring revenues [12] - Many native applications are being acquired for talent or technology by larger companies [14] Global Market Dynamics - For software companies, the US market accounts for 50% of every dollar spent, making it crucial for global leadership [19] - European and Israeli companies are building product and engineering teams in their regions [18]

Infrastructure Advantage in San Jose - San Jose is uniquely positioned with 2 gigawatts of new power capacity coming online in the next four years, making it the only city in California with such capacity [1][5][8] - This location in north San Jose offers access to ample recycled water at a reasonable rate and a new transmission line [2] - San Jose's infrastructure allows it to potentially triple its energy consumption in the next 4-5 years [8] Data Center Development - Prologis is proposing to build 400 megawatts worth of data centers in San Jose [3] - The location near a wastewater treatment facility and landfill is ideal for data centers as servers are not affected by odors [4][5] - The site is underutilized land, avoiding displacement of housing or retail [19][20] Energy and Sustainability - San Jose uses a community choice aggregator to purchase power, signing 20-year power purchase agreements to fund new generation capacity [10][11] - The city is investing in solar and wind power paired with storage to address intermittency issues and increase the renewable mix on the grid [11][12][15][16] - While the city aims for clean energy, it cannot guarantee that no power from nuclear or natural gas will be used, as power comes from the grid [14][15] Market Demand - There is a robust pipeline of interest from hyperscalers, large tech companies, and advanced manufacturing users for the new power capacity [17][18] - A cluster study last year showed over 800 megawatts worth of demand in San Jose, and it is suspected to be higher now [18]

You're joining us now on the theme of the day. I think it has been all about data centers, whether it's 50 billion coming from anthropic, whether we're thinking about matter, continuing its focus in Wisconsin. But why do you think it's too much too soon from the Wall Street perspective.Well, for a lot of reasons. Living in a virtual world, as most of Silicon Valley does, it's really hard whenever they have to, you know, go out into the real world in and do physical things. And that's what we're talking abou ...

Clearly this is a positive market reaction to AMD saying, here's what we see for the next five years. But that 80% Tiger compound annualized growth for the datacenter business, that's the headline really, isn't it. Yeah, I mean, there were a lot of headlines, a lot of numbers.And if you actually look at what happened as I was speaking, Stark really didn't do very much. Then after hours when the management were on stage and were being questioned, they put in a strong performance and that's really when the st ...

That's the story. That's the reporting. Lots of investment up front.And you got to wait a long time to get more. Yeah. The thing to keep in mind about nuclear is that everything moves really slowly.You know, I mean, any of these power plants are major construction projects. So already that's a slow thing. And then it's nuclear.So you know that they are going to take their time because it has to be safe. So it's a very slow moving industry. There's huge demand for it Now. There's there's, as you know, just a ...

Earnings and Market Performance - Earnings have been notably strong, justifying the recent market rally [1] - Hyperscalers are demonstrating growth and returns on their capital expenditure (CapEx), particularly with AI enhancing ad effectiveness [2] - NVIDIA's $4.7 trillion market cap and 56-57% top-line growth in data centers highlight its significance [6] Capital Expenditure (CapEx) and Investment - Investors are scrutinizing the pace and returns of CapEx, questioning if it's a one-time event or a long-term trend [4][5][7][21] - Meta's increased debt and CapEx commitments initially concerned investors [3] - The market is keen to understand how NVIDIA plans to maintain its revenue trajectory amidst significant CapEx [8] Macroeconomic Factors - Interest rates significantly impact technology investments by discounting the present value of future cash flows [15] - The Federal Reserve's (The Fed) actions and liquidity influence capital pricing in the market [17] - The potential for interest rates to remain on hold creates countervailing winds in the short term [18][19] Investment Strategy and Opportunities - Investors should focus on their competitive advantages, such as understanding market dynamics to identify winners and losers [10] - Market weakness in fundamentally strong areas may present buying opportunities [13] - Speculative areas like quantum stocks, lacking revenue, are not necessarily buying opportunities [14]

Anthropic's Infrastructure Investment - Anthropic plans a \$50 billion infrastructure project, a significant commitment for a four-year-old startup [1][2] - The \$50 billion investment is being compared to government infrastructure spending, suggesting a measured approach [2] - Anthropic aims to demonstrate fiscal responsibility with this investment, which is an order of magnitude less than some other initiatives [3] Business and Partnerships - Anthropic has raised \$13 billion and is valued at \$183 billion, with 300,000 business customers [3] - Anthropic is partnering with a UK company, Fluid Stack, for US infrastructure development [4] - Fluid Stack, a neo cloud company, is less known but has been involved in a French supercomputer project [4] Computing Needs and Reliance - The total gigawatt figure for Anthropic's US footprint is undisclosed [5] - Anthropic heavily relies on hyperscale partners like Amazon and Google for compute resources, despite the \$50 billion plan [6] - Anthropic will continue to depend on big tech partners and neo clouds to meet its computing needs [7]

Isaiah, good to have you on the program. Congratulations on the race. When we talk about small modular reactors, you're not alone.Nano nuclear Oslo, Nuscale Just a handful of the companies working on this technology. What makes values different. Yeah.Tim, it's a huge pleasure to be on with you today and it's a really exciting day for valor. It's a great question. There are a lot of people tackling this very, very difficult problem of how do we make all of the energy needs that America has in the future.You ...